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A few comments have popped up here and there about what people have paid to have their taxes done professionally. I thought gathering that info in one place might be helpful.
If you used a paid tax preparer this year, what did you pay? Any details you're willing to provide about the services you received would be helpful to put the cost in context relative to the complexity of your return as well as any other services your tax preparer provides beyond simply preparing your return(s).
We use a CPA who we've used for a number of years. He happens to be a personal friend and the friendship predates us making him our accountant by several years. I trust him implicitly.
This year's fee was $875. He did give me a $375 professional courtesy discount (which hasn't happened previously) because along with me "bugging" him all year long with financial questions, he "bugs" me all year with medical questions. He has a family member who has had significant medical issues and he often reaches out to me to explain things he doesn't fully understand and to get my opinion on the care plan. The discount was to show his and his wife's great appreciation for me always being open and available to them for that. He occasionally asks questions about himself or other family members as well.
Anyway, here is the list of forms and schedules that were prepared for us this year. Also, various worksheets and reports made for our benefit to review our history, year-to-year comparisons, etc.
Summary of Federal Form Charges:
Form 1040 Individual Income Tax
Form 1040 Schedule 1
Federal Information Worksheet
Identity Verification Worksheet
Form W-2 Worksheet
Form 1099-G Worksheet
Form 1099-R Worksheet
Earned Income Worksheet
Tax Payments Worksheet
Qual Dividends/Cap Gain Tax Wks
Electronic Filing Information Wks
IRS E-file Authentication Stmt
Form 8879 E-file Signature Auth
Schedule B Interest & Ordinary Divd
Interest & Dividend Summary
Schedule C Business Profit & Loss
Schedule C Two-Year Comparison
Schedule D Capital Gains & Losses
Form 1099-B Wks
Form 8949 Sales/Disp of Cap Assets
Schedule SE Adjustments Worksheet
Form 8959 Additional Medicare Tax
Form 8995 Qual Bus Inc Ded Simpl Cmp
Qual Business Income Component Wks
Qual Bus Inc Deduction Summary
Form W-2/W-2G Summary
Form 1099-R Summary
Federal Carryover Worksheet
Roth IRA Carryover Worksheet
Tax Summary Report
Two Year Comparison Worksheet
Tax History Report
Summary of New Jersey Form Charges:
Form NJ-1040, Resident Return
Information Worksheet
Business Income Worksheet
Interest and Dividend Income Wks
Total Wages Worksheet
Property Tax Deduction/Credit Wks
Tax Payments Worksheet
Sch NJ-DOP, Disposition of Property
Healthcare Coverage
Sch NJ-BUS-1, Business Inc Summary
Sch NJ-BUS-2, Alt Business Adjust
Two-Year Comparison Worksheet
As I mentioned, he is also readily available to us throughout the year and I often reach out to him with questions or concerns. He has me send him a pay stub 2 or 3 times a year to make sure that my withholding is on track.
Just as an example of something he's done during the year was last fall when DW wanted to formalize her sewing business. He spent about 30 minutes on the phone with us walking through how she registers her business with the state, gets her sales tax ID, how to handling banking for the business, tax issues to be aware of, etc. There was no extra charge for that "consult" or any other calls, texts, or emails we've exchanged. I've also occasionally asked questions about our daughter, even though he does not prepare her taxes. Again, no added charges for answering any of my questions.
Is $875 a lot? Maybe, but I feel essentially having unlimited access to a CPA whenever I need one is worth the price. I definitely make use of his services regularly, not just at tax time.
If you used a paid tax preparer this year, what did you pay? Any details you're willing to provide about the services you received would be helpful to put the cost in context relative to the complexity of your return as well as any other services your tax preparer provides beyond simply preparing your return(s).
We use a CPA who we've used for a number of years. He happens to be a personal friend and the friendship predates us making him our accountant by several years. I trust him implicitly.
This year's fee was $875. He did give me a $375 professional courtesy discount (which hasn't happened previously) because along with me "bugging" him all year long with financial questions, he "bugs" me all year with medical questions. He has a family member who has had significant medical issues and he often reaches out to me to explain things he doesn't fully understand and to get my opinion on the care plan. The discount was to show his and his wife's great appreciation for me always being open and available to them for that. He occasionally asks questions about himself or other family members as well.
Anyway, here is the list of forms and schedules that were prepared for us this year. Also, various worksheets and reports made for our benefit to review our history, year-to-year comparisons, etc.
Summary of Federal Form Charges:
Form 1040 Individual Income Tax
Form 1040 Schedule 1
Federal Information Worksheet
Identity Verification Worksheet
Form W-2 Worksheet
Form 1099-G Worksheet
Form 1099-R Worksheet
Earned Income Worksheet
Tax Payments Worksheet
Qual Dividends/Cap Gain Tax Wks
Electronic Filing Information Wks
IRS E-file Authentication Stmt
Form 8879 E-file Signature Auth
Schedule B Interest & Ordinary Divd
Interest & Dividend Summary
Schedule C Business Profit & Loss
Schedule C Two-Year Comparison
Schedule D Capital Gains & Losses
Form 1099-B Wks
Form 8949 Sales/Disp of Cap Assets
Schedule SE Adjustments Worksheet
Form 8959 Additional Medicare Tax
Form 8995 Qual Bus Inc Ded Simpl Cmp
Qual Business Income Component Wks
Qual Bus Inc Deduction Summary
Form W-2/W-2G Summary
Form 1099-R Summary
Federal Carryover Worksheet
Roth IRA Carryover Worksheet
Tax Summary Report
Two Year Comparison Worksheet
Tax History Report
Summary of New Jersey Form Charges:
Form NJ-1040, Resident Return
Information Worksheet
Business Income Worksheet
Interest and Dividend Income Wks
Total Wages Worksheet
Property Tax Deduction/Credit Wks
Tax Payments Worksheet
Sch NJ-DOP, Disposition of Property
Healthcare Coverage
Sch NJ-BUS-1, Business Inc Summary
Sch NJ-BUS-2, Alt Business Adjust
Two-Year Comparison Worksheet
As I mentioned, he is also readily available to us throughout the year and I often reach out to him with questions or concerns. He has me send him a pay stub 2 or 3 times a year to make sure that my withholding is on track.
Just as an example of something he's done during the year was last fall when DW wanted to formalize her sewing business. He spent about 30 minutes on the phone with us walking through how she registers her business with the state, gets her sales tax ID, how to handling banking for the business, tax issues to be aware of, etc. There was no extra charge for that "consult" or any other calls, texts, or emails we've exchanged. I've also occasionally asked questions about our daughter, even though he does not prepare her taxes. Again, no added charges for answering any of my questions.
Is $875 a lot? Maybe, but I feel essentially having unlimited access to a CPA whenever I need one is worth the price. I definitely make use of his services regularly, not just at tax time.
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